Venezuelan opposition threatens country won't pay Goldman Sachs' $2.8 billion bond deal

Borges charged in the letter that Goldman's deal offered a "financial lifeline" to President Nicolas Maduro's regime, which has been violently clamping down on protesters amid a lack of food, basic living necessities and law and order. For instance, the time remaining to maturity on the most widely traded Venezuelan PDVSA bond is just a few months, as it was issued in 2010 and is slated to mature in November 2017, according to MarketAxess data.

In New York Wednesday, Venezuelan Foreign Minister Delcy Rodriguez said Maduro's opponents should feel "deeply frustrated" that the US -led plan to intervene in Venezuela's crisis had failed. "We agree that life there has to get better, and we made the investment in part because we believe it will".

Opposition leader Julio Borges accused Goldman of "aiding and abetting the country's dictatorial regime". "I also intend to recommend to any future democratic government of Venezuela not to recognize or pay on these bonds", Borges wrote.

Beke's family tragedy is a part of Venezuela's spiraling humanitarian crisis. Protests against President Nicolas Maduro's government have left dozens dead in the last two months.

Two Venezuelan opposition leaders were wounded on Monday by security forces dispersing protests in the capital Caracas against President Nicolas Maduro, according to one of the leaders and an opposition legislator.

"This good business deal of Goldman Sachs is at our expense", said Diana Carvallo, a 65-year-old artist who splits her time between NY and Caracas. A source at Goldman said the intermediaries were in Europe.

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The communique also condemned attacks against Venezuelan state officials overseas, as well as against social and political leaders "that support peace and dialogue in Venezuela".

"You know when a company like Goldman Sachs provides money, it's not going to be for that, it's going to be to buy bullets, to buy tear gas and to keep killing people", says Beke, wiping away tears.

With the inefficient economic model in Venezuela struggling under a drop in the price of oil, the unpopular government led by Maduro has become more and more dependent upon asset sales or financial deals to bring in much needed foreign exchange. That apparently includes an $865 million transaction involving debt from state-run oil company PDVSA, which owns gasoline provider Citgo.

In Tuesday's trading, bonds issued by Petróleos de Venezuela, commonly known by its acronym PdVSA, and due in 2022 rose 0.8% to 61.35 cents on the dollar, moving higher despite a drop in crude-oil prices.

Shortly after the meeting, Venezuela's Foreign Minister Delcy Rodriguez stated that the "interventionist bloc in the OAS continue to be defeated by the honorable states of the region", announcing that she herself will attend the OAS general meeting set for June 19-21, in Cancun, Mexico with the support of the people of Central America, the Caribbean, ALBA nations and all of Latin America.

He said the solution to "reestablish democracy" in the South American OPEC nation is in the hands of the Venezuelan people and the Maduro government.

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